anyone using volume indiactor for intraday trading

[Trader273]

Quote from taowave:

On volume based bars,does each stock have its own "volume filter",or is it based on some % of an average??

It simply builds a bar for whatever specified amount you tell the software. So instead of having a bar that forms every 3 min, you could change it and have it build a bar every 5000 shares. Of course, different markets are going to require different settings. I trade futures so my settings are going to be totally different then someone who trades stocks.

There is no magical number that will produce the best results, you just have to find a setting that appeals to you.

There is a formula on Tradestation's forum, that will give you an approximation of what what the volume bars equal in time. ( example, 1200 volume bars would equal about a 3 min chart.) Ill look later to see if I can find it.

 

[austinp]

<i>"What multiple of the H-L is your daily net?"</i>

Dear Jack,

With all due respect (and I'm sincere about that), fixation on catching every potential intraday wiggle is purely pie-in-the-sky. No one on earth can capture the day's range or greater <b>on a consistent basis over the course of time.</b> It sounds fine in theory, but theory and realized profits can be mile-wide chasms apart.

Can't be done, humanly impossible, end of story. Unless of course, someone can prove otherwise. Only acceptable proof of such is real-time, real money blotters.

Here's what I did yesterday in the ER. It was only 1/3 the day's range in realized gains. Perhaps I'll enjoy better today, perhaps not. In any event, fixation on capturing max ## of points leads new traders away from consistent success and straight down a path of false hope and destruction.

Best Trading Wishes

 

[taowave]

Quote from austinp:

<i>"What multiple of the H-L is your daily net?"</i>

Dear Jack,

With all due respect (and I'm sincere about that), fixation on catching every potential intraday wiggle is purely pie-in-the-sky. No one on earth can capture the day's range or greater <b>on a consistent basis over the course of time.</b> It sounds fine in theory, but theory and realized profits can be mile-wide chasms apart.

Can't be done, humanly impossible, end of story. Unless of course, someone can prove otherwise. Only acceptable proof of such is real-time, real money blotters.

Here's what I did yesterday in the ER. It was only 1/3 the day's range in realized gains. Perhaps I'll enjoy better today, perhaps not. In any event, fixation on capturing max ## of points leads new traders away from consistent success and straight down a path of false hope and destruction.

Best Trading Wishes

CNBC is having their annual $1,000,000 trading challenge..Last years winner returned 400% in 6 or 8 weeks.That is on line with what Jack states if one incorporates compounding.....

How about we put an end to the debates and see what really works and what doesnt??

Anyone interested??

 

[syswizard]

Quote from austinp:

<i>"What multiple of the H-L is your daily net?"</i>
Here's what I did yesterday in the ER. It was only 1/3 the day's range in realized gains. Perhaps I'll enjoy better today, perhaps not. In any event, fixation on capturing max ## of points leads new traders away from consistent success and straight down a path of false hope and destruction.
Best Trading Wishes

So if you were trading 20 lots for each trade, you made 2.31 Russell points NET then ?
Wow, that's very good.

 

[Pr0crast]

Quote from austinp:

<i>"What multiple of the H-L is your daily net?"</i>

Dear Jack,

...

No one on earth can capture the day's range or greater <b>on a consistent basis over the course of time.</b> It sounds fine in theory, but theory and realized profits can be mile-wide chasms apart.

Can't be done, humanly impossible, end of story. Unless of course, someone can prove otherwise. Only acceptable proof of such is real-time, real money blotters.

If you believe something is impossible, it will be impossible... for you.

What motivation does anyone have to post real money blotters? If someone is making more than the daily H-L, their ego is big enough already... they certainly don't need your approval. And even if they did post "proof," you would say that it wasn't good enough or it was doctored and demand more proof. Point is you have made up your mind and "proof" is not going to change that for you.

The best proof is doing it yourself. I don't get why people here want everything spoonfed to them. Nobody is self motivated anymore. Do you want to be right or do you want to be rich?

 

[Pr0crast]

Quote from taowave:

CNBC is having their annual $1,000,000 trading challenge..Last years winner returned 400% in 6 or 8 weeks.That is on line with what Jack states if one incorporates compounding.....

How about we put an end to the debates and see what really works and what doesnt??

Anyone interested??

If you read the rules to that contest, you would understand how ridiculously limited and pointless it is.

To be eligible for trading in the Contest, stocks must have a market capitalization of at least Five Hundred Million Dollars ($500,000,000) as of the close of the markets on March 2, 2007. ...... Limit orders, open orders, short selling, margin buying, and the trading of derivatives, options, bonds, mutual funds, exchange traded funds or other securities is not permitted.

 

[taowave]

Quote from Pr0crast:

If you read the rules to that contest, you would understand how ridiculously limited and pointless it is.

Read the rules and understand where you are coming from...The rules are only ridiculous for intraday traders.

 

[taowave]

Quote from Pr0crast:

If you believe something is impossible, it will be impossible... for you.

What motivation does anyone have to post real money blotters? If someone is making more than the daily H-L, their ego is big enough already... they certainly don't need your approval. And even if they did post "proof," you would say that it wasn't good enough or it was doctored and demand more proof. Point is you have made up your mind and "proof" is not going to change that for you.

The best proof is doing it yourself. I don't get why people here want everything spoonfed to them. Nobody is self motivated anymore. Do you want to be right or do you want to be rich?

Pro,
I am not judging anyone,but a "real money" blotter" goes a LONG way......

The ONLY reason I believe Jack MAY be able to put up those numbers is due to Spyders "live trading" as posted in his trading journal...That alone give the method credibility...

Furthermore,Jack states that he returns over 400% in equities and multiples more in futures...That would make him the very best trader in the world...

If I went around telling everyone I was Superman,would you take it at face value,or would you ask me to fly??

 

[Atlantic]

don't fall into that trap and believe all the nonsense. when the market is choppy slow and narrow he is out - like everybody else. far from being "in all the time" (and just one more case of his pubertal exaggerations ...).

and - as spydertrader told me - he makes enough mistakes - like everybody else. far from "making money all the time".

for whatever reason that old man desperately tries to create a certain glorious image of perfection and greatness, etc. - ridiculous. but in the internet everybody can be whatever he wants ...

beside that he is obviously obsessed with a massive degree of greed. he most likely was raised in a very rigid and violent environment where no failure was ever tolerated, etc. the result is a mental disorder and a constant need for getting attention and admiration.

somebody who (like me) knows quite a lot about psychology can very easily see through all that rambling and bragging and those endless rows of words that rotate around the same few things again and again for many years now.

fact is and remains that so far he was UNWILLING and/or UNABLE to deliver the slightest proof that he is able to trade profitable at all - let alone make results CONSISTENTLY anywhere NEAR that mentioned nonsense of 3 times h/l daily. on the other hand there are several cases evident where he TRIED to demonstrate his abilities in public and failed. (actually he announced here several times that he would post "ahead of the market", etc. - but he never did ...).

on the other and he attacks and belittles other traders who tell about their method and their profits - see the irony? think about it. he is not a good person. the fact that he cannot handle the smallest bit of criticism is just one sign of his shabbiness and his incompetence as a human being.

he does not ask for money. so what. just like not everybody who kills somebody does it for money.

of course it is true that the markets have a high profit potential. but what he does is that with his theories he constantly tries to fish for rookie traders - and he hopes that sooner or later one of them can prove what he thinks SHOULD BE possible.
(note: he claims that a complete newbie WITHOUT ANY experience and knowledge about trading and markets can learn within 6 months how to make about $20 million per year trading 50 lots of the ES ...).

and i can only laugh when those who defend him find it great and wonderful that the way he writes is so difficult to comprehend - or incomprehensible at all. this is absolutely hilarious. somebody who is competent, intelligent AND wants to teach would surely be able to find a way to transport his knowledge in a SHORT and CLEAR form to all those he wants to reach.

but - as i mentioned elsewhere already - it is a PROVEN FACT that incompetence is covered with complexity.

 

[Tums]

Gerry, I googled the internet, and I noticed you have been at this for 6~7 years now. I have never seen you so articulated.